How much ££ per month on personal accounts?

[craigloganbt]

What is a good rule of thumb to stay under gross sales value on personal accounts to avoid paypals axe coming down?

I've been selling at £2-3k per month per aged account. Can i push it any higher or am i running with the bulls by doing so?

Also do refunded orders count towards total gross? Far too many scammers on ebay grrzz

[JohnWall]

Try to spread your sales over as many accounts as possible, within reason of course. There is no set figure as it depends on a lot of other factors, not just the turnover, such as age of account, previous account activity, the items you're selling etc...

Theres no set answer really. Aslong as you grow sales gradually and dont sell risky items then theres no reason to limit sales. You can go much higher than that if its built up gradually.

I do advise using multiple accounts rather than have one account.

[craigloganbt]

Originally Posted by just_smile

Theres no set answer really. Aslong as you grow sales gradually and dont sell risky items then theres no reason to limit sales. You can go much higher than that if its built up gradually.

I do advise using multiple accounts rather than have one account.

Thanks for the replies. I have multi accounts already. I am just wondering what limit I can push each too. As in the past every account that has reach 5k has then been limited


How slowly would you say aging upto 5k? Say for example on a 6 month old account with 2k sale per month for the last 3 months?

[GreenBean]

Originally Posted by craigloganbt

What is a good rule of thumb to stay under gross sales value on personal accounts to avoid paypals axe coming down?

I've been selling at £2-3k per month per aged account. Can i push it any higher or am i running with the bulls by doing so?

Also do refunded orders count towards total gross? Far too many scammers on ebay grrzz

Not for personal accounts in the UK.
IMHO, you are sailing close to your limits now. What sort of bank account is attached? Current or basic is what I want.
You do not want to be asked to upgrade to a business account. Unless you think of going that way.

[craigloganbt]

Originally Posted by GreenBean

Not for personal accounts in the UK.
IMHO, you are sailing close to your limits now. What sort of bank account is attached? Current or basic is what I want.
You do not want to be asked to upgrade to a business account. Unless you think of going that way.

Thanks for the reply. I always felt there was a limit. I'll have to resist temptation and stick to 2k. It just so tempting when you have sold 2k on all accounts by the 15th Patience is key.

I'm using high street savings/isa's. How Would paypal know the difference since sort codes are by branch not account type?

You are right about the upgrade to business. I've only ever successfully got one account through the limitations process years ago, I don't even try now its soul destroying waiting for them to tell you no.

[Play]

Originally Posted by craigloganbt

Thanks for the reply. I always felt there was a limit. I'll have to resist temptation and stick to 2k. It just so tempting when you have sold 2k on all accounts by the 15th Patience is key.

On a well matured account with sales history, I would always stick to below £4k/month (spread over the month, not as one lump sum).

Any more, i'd spread over multiple accounts.

Originally Posted by craigloganbt

I'm using high street savings/isa's. How Would paypal know the difference since sort codes are by branch not account type?

Usually since the direct debit mandate wont go through. But savings accounts work just fine.

I wouldn't use ISA, as any withdrawals into such account will be cutting into your yearly ISA allowance. i.e. if you withdraw, withdraw, withdraw... and you exceed £20k (this year), then HMRC will probably be in touch for using more than your allowance.

Originally Posted by craigloganbt

You are right about the upgrade to business. I've only ever successfully got one account through the limitations process years ago, I don't even try now its soul destroying waiting for them to tell you no.

No issue with PayPal being a business, but depends on how you set it up. Set it up wrong, and it could pose a lot of issues. Best to stick to Premier/Personal in the UK though.

[craigloganbt]

Originally Posted by Play

On a well matured account with sales history, I would always stick to below £4k/month (spread over the month, not as one lump sum).

Any more, i'd spread over multiple accounts.



Usually since the direct debit mandate wont go through. But savings accounts work just fine.

I wouldn't use ISA, as any withdrawals into such account will be cutting into your yearly ISA allowance. i.e. if you withdraw, withdraw, withdraw... and you exceed £20k (this year), then HMRC will probably be in touch for using more than your allowance.



No issue with PayPal being a business, but depends on how you set it up. Set it up wrong, and it could pose a lot of issues. Best to stick to Premier/Personal in the UK though.

Thanks for replying! Can you expand on " mature" I've a few accounts 6-8 months old selling 2-3k per month for 3-4 months total sales 10-12k

Rules have changed with ISA's any money withdrawn is also added to allowance ( i noticed so when opening this one it said so.) + Even under the old system, 20k sales is better than no sales hey!

I noticed the problem with business accounts as i just set one up, its "legally" required that you set up DD to confirm account/raise withdrawal limit past 500, since i'm using savings, not possible.

I'm not sure how "legally required" it is probably just paypals way of passing the blame

[Play]

Originally Posted by craigloganbt

Thanks for replying! Can you expand on " mature" I've a few accounts 6-8 months old selling 2-3k per month for 3-4 months total sales 10-12k

I'd say that's mature.

Originally Posted by craigloganbt

Rules have changed with ISA's any money withdrawn is also added to allowance ( i noticed so when opening this one it said so.) + Even under the old system, 20k sales is better than no sales hey!

Have you got a link where it says this? My bank still emphasises that any withdrawals cannot be replaced with funds for the same year. i.e. if you withdraw the full £20k, you cannot add any more money back in the same tax year.

Originally Posted by craigloganbt

I noticed the problem with business accounts as i just set one up, its "legally" required that you set up DD to confirm account/raise withdrawal limit past 500, since i'm using savings, not possible.

Perhaps an oversight on my part as I use a combination of current / savings accounts. Never had a problem. But best to stick to Premier/personal unless you have a need for business features.

Originally Posted by craigloganbt

I'm not sure how "legally required" it is probably just paypals way of passing the blame

To be honest, it's the first time I've heard of this.

[craigloganbt]

Originally Posted by Play

Have you got a link where it says this? My bank still emphasises that any withdrawals cannot be replaced with funds for the same year. i.e. if you withdraw the full £20k, you cannot add any more money back in the same tax year.

It just popped up when i opened the ISA. every time i withdraw from my ISA my allowance goes back up to 20k too It says below the account remaining allowance: £19830 i withdraw the £170 i just deposited and it returns to 20k

[Play]

Originally Posted by craigloganbt

It just popped up when i opened the ISA. every time i withdraw from my ISA my allowance goes back up to 20k too It says below the account remaining allowance: £19830 i withdraw the £170 i just deposited and it returns to 20k

hmmm... according to our bank the ISA rules are written by HMRC, and is sometimes interpreted by different banks in different ways. Our bank doesn't allow this.

Out of curiosity, what bank is this ISA with?

[harminder86]

Each time i reach near 1000 i get limited for withdrawing about 900

[craigloganbt]

Originally Posted by harminder86

Each time i reach near 1000 i get limited for withdrawing about 900

You're doing something wrong my friend

[rsot]

Originally Posted by harminder86

Each time i reach near 1000 i get limited for withdrawing about 900

"Each time"....why not aim for smaller amount...vary your intervals - try different activity.

Also, could be related to what you are selling as well.